© Reuters. FILE PHOTO: Alibaba Group co-founder and executive chairman Jack Ma speaks during a news conference in Hong Kong

BEIJING (Reuters) – Alibaba (NYSE:) Group Holding Ltd’s co-founder Jack Ma will remain as executive chairman, and will unveil a succession strategy on Monday on his 54th birthday, South China Morning Post reported on Saturday, citing a company spokesman.

Ma will provide transition plans over a significant period of time, the spokesman was quoted as saying, adding that the succession strategy is part of a management plan 10 years in the making.

The New York Times reported on Friday that Ma will retire from the e-commerce company on Monday.

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